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Root’s improved results make it an attractive acquisition, not a comeback story.
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Personal auto rates increased 19% during the year.
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London underwriters are getting aggressive in the US.
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The InsurTech’s shares gained over 50% in value on Thursday.
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In September 2023, Cowbell made the same number of staff cuts.
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Both executives will report to Jim Wallace, head of E&S property.
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Its PE owners have been exploring strategic options since May last year.
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The company posted favorable development in the last quarter of 2023.
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The executive was most recently president of Vouch Specialty.
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The business will be led by Alex Kirkby, new head of marine and energy.
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David Arick will design and implement Sedgwick’s risk management solutions.
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The firm’s Q4 GWP grew over 21% fueled by surety, transactional E&S and captives.